Opinion

Michele Bullock could be the Maradona of Australian central banking

Rather than smashing jobs or going too soft, the Reserve Bank governor is weaving through the inflation challenge with a hawkish comment here, a dovish quip there and a steady interest rate.

Paul BloxhamEconomist

Dec 5, 2024 – 10.44am

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It’s 55 minutes into the 1986 World Cup quarter-final between Argentina and England. Diego Maradona, an extraordinary footballer, having scored just four minutes earlier, again sprints towards the goal with the ball at his feet. Defenders come at him five times, but he fakes a move right then left, again and again, until eventually he scores.

It would later be dubbed the goal of the century. But to an observer with a bird’s eye view, Maradona runs almost half the field in virtually a straight line while the bamboozled opposing players appear to step out of his way.

Paul Bloxham is HSBC’s chief economist for Australia, New Zealand and global commodities.